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FT Partners Advises on Chrome River's Merger with Certify

Overview of Transaction

  • On March 5, 2019, Chrome River Technologies and Certify agreed to merge in a transaction valued at over $1 billion
  • K1 Investment Management, which owns Certify, will hold a majority stake in the combined company
  • Existing shareholders, including the companies’ founders and Chrome River investor Bain Capital Ventures, will retain minority stakes
  • Chrome River is a leader in expense management, providing SaaS-based automation solutions for more than 1,000 organizations worldwide
  • Certify is the world’s largest independent provider of travel, expense and invoice management software serving more than 10,000 companies through its family of brands

Significance of Transaction

  • The merger joins Chrome River to the existing Certify family of brands, which includes Nexonia, Tallie, Abacus, and Captio
  • The multi-brand strategy enables companies of all sizes and verticals to work with a single vendor, yet craft the solution that is best suited to their specific needs
  • The companies will support all existing products and collaborate on accelerating investments in technology areas such as machine learning, artificial intelligence, analytics, and reporting, to provide customers with enhanced travel, expense, and invoice management capabilities

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to Bain Capital Ventures and Great Hill Partners in this transaction
  • FT Partners previously advised Chrome River on its $100 million Series D Financing from Great Hill Partners in 2015
  • This transaction underscores FT Partners' strong domain expertise and successful track record advising leading SaaS-based companies in the Financial Management Solutions space